Court Rules 12.5% Disallowance on Grey Market Purchases and Labor Expenses Justified in Tax Case.

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....Hawala purchases - Addition on the basis of alleged statement given to sales tax department - assessee has done purchases from grey market. In our considered opinion 12.5% disallowance in this case would meet the end of justice. We direct accordingly. - On similar reasoning we disallow 12.5% of the labour expenditure in this regard. - AT....